Donald Trump’s new “reciprocal” tariffs, now at 104% on Chinese goods, have triggered a global trade war, disrupting markets and sparking recession fears. This layered tariff approach, starting with duties related to fentanyl and escalating with retaliatory measures, has sent stock markets plummeting and is expected to raise consumer prices. Post navigation Stock market today: BSE Sensex opens over 350 points down; Nifty50 below 22,450 ‘We are keeping India’s interests at forefront’: Piyush Goyal on Trump tariffs